Eur_gbp
EUR/GBP Bullish (weekly) Prices held well Tenkan Sen and above KUMO
LS broke its own KUMO: should be a strong buy indication
I would wait for a smaller correction and then enter a buy trade
EURGBP to correct lower.You would think the bombings in Brussels would send the euro plummeting. You would think the ECB reducing rates and more QE would send the euro plummeting. You would think the very idea of a brexit that threatens the EU concept would bring down the euro. You would think that political uncertainty in Germany and poor data would bring down the euro. This is my chart.
Arguments in favour of top:
1. 200 weekly MA resistance
2. Overbought CCI and technical.
3. Resistance at ~.79
I'd say risk of Brexit has already been factored into the price.
EUR/GBP LONG/SHORT Opportunities. Mnth/Wk/Daily charts usedSorry about the colour contrast.
MONTHLY/WEEKLY/ Chart Analysis.
The recent strong bullish movement looks to change the direction of the trend, but at this current time it is still within the downward trend and following the down trend pattern. A reversal at the 0.382fib or 0.80586, is what i'm seeing atm, looking to continue down to the 0.64686 mark if the move is strong.
However if the 0.382fib retracement is broken also meaning a break of the downtrend, we can look for the bullish move to continue up just pass the 0.50fib to around 0.84968, if the trend continues, we can look just past the 0.618fib to around 0.88170 for our next stop.
Daily Chart Analysis 29th/02/2016
Short on the 0.77165 break. Down towards the weekly resistance (0.70328 point). If the move is strong look towards a push to the support of the monthly trend parallel channel.
Trade of the day. Divergence of EURGBP says Sell!A few arguments in favour of my call.
1. Divergence on major indicators.
2. MACD crossover.
3. Shooting star candle.
On a fundamental level, ECB to introduce further QE plus recent oil gains should push EURGBP down.
Two in One - Breakout of a Downtrend and an Inverted H&STarget is predicted at 0.80500 = 500 pips. Good Luck!
EUR/GBP H1 Bearish ButterflyIt's known as butterfly pattern :p....
Short @ 0.7368
TP 1 @ 0.7335 (reachable if GBP PMI stuff is better than expected)
TP 2 @ 0.7250 (next target for the patient trader :p)
SL @ 0.7450 ( above D point)
SL 2 @ 0.7500 (for the nervous trader :p)
EURGBP may accelerate higher once 0.74 is breachedThe EUR/GBP cross is currently in a technical position that I'm not very comfortable with. On one hand, prices remain in a long-term downtrend explained by monetary policy divergences between the BoE and the ECB. But on the other hand, the euro has been recently bid in despite of Mario Draghi's recent talk of expanding/prolonging the ECB's current QE program. The euro, being a major financing currency for carry trade positions, will likely head higher if equities markets start falling again (following recent Chinese industrial production + fixed capital inbves
The long-term fundamentals haven't changed at all, but current market conditions warrant being careful with shorting the euro when speculative short positions in futures markets are rising (60k net short as of last Friday). The EUR/GBP may break above the 0.74 handle, which would likely lead to an extension higher over several days, perhaps all the way up to 0.76. At that point, this currency pair would become very interesting as prices would be testing their long-term bearish trend line, which reflects the monetary policy divergence theme initiated in the Q3 of 2013 (this came from bets on a BoE rate hike).
Conclusion: my gut feeling tells me that it's risky shorting the euro at these levels, but 0.76 may provide a decent opportunity in a couple of weeks. If prices reach the trend line, I will update this idea. A break below 0.72 would increase the bearish potential in September given the failure to break above the 200-DMA.
EUR/GBP: Technical buy signalAs you can see on the right chart, the trend in EUR/GBP is clearly up, and recently a"Triangle" pattern has been forming. Now it looks like the price is going to make a break-out. The target is above 0.7421 high. Possible event-risk is UK GDP release due in 30 minutes.
EURGBP is a pair you should be watching in MarchSince the summer of 2013, I've maintained a bearish stance on the EURGBP cross as I correctly anticipated the central bank divergence theme (article in French : bit.ly). Back in December, I indicated that this pair could reach £0.72 with a break of the 2012 lows. This target is almost reached, and I will be watching the euro for the first signs of a corrective bounce around £0.725/0.7200 in March. I am aware that even with such a correction, the fundamentals will remain quite bearish, especially given that markets seem to have started pricing back in a BOE rate hike in 2016 after the quarterly inflation report published back in February. Nevertheless, I can't help but notice the 1998 and 2003 highs (£0.7025-0.7240) that was a key resistance before December 2007. I'll be focusing on short-term price action within this zone in March, and any bullish reversals on the daily chart may represent long setups to target perhaps as far up as £0.755. That said, if the anticipated correction is overall week with more of a range that sets in, I might end up coming back to the short side given the long-term fundamentals. A monthly close below £0.70 would suggest even more downside potential all the way to £0.653 (2007 lows).
EUR/GBP Short from 0.73200Still overall bearish, Previous price action shows 50% - 75% pull backs into similar strong bearish bars which are highlighted on the chart. I am still bearish on this pair but we should see a short term pull back to around 0.73200. Look for price to slow or reject at this level for entry opportunities. This price also coincides with the .236 weekly fib.
EUR/GBP BUY recommendation 90 PIPS upside potentialHey traders,
Another buying oppertunity here on the EUR/GBP!
Now the bigger picture rules ALL in the market and this pair has completed a rather large . A, B, C, D formation finding support at 0.7595!
We are now due for a bounce up to 0.7760 As the upside target zone.
very clean,relaxed and simple Price action analysis from the team.
EUR/GBP Prepare for longMy honest opinion is that one of the major mistakes globaly is that traders counter trend immidiately once price hits PRZ. Even with DT or DB you need some sort of comformation, at least break of DT/DB and wait for price to retrace back to the V bottom of DT structure or A top of DB. I found out that the best way to get comformation that trade has really changed is break of EMA 123 and break of trend line with at least 3 touches after that we should watch for retracment so 123 on lower timeframe and then trade break of the retracment. Better safe then sorry ;)
Resons are written on the chart!
If you have any question feel free to ask!
Best regards
EURGBP closer priceactionThis BAT pattern shows near future picture. XA leg ate all 5 waves and exhausted. (This was part of my longtime analysis posted yesterday). Now looking at this near future pattern, it comes with 1.618 BC extension and 0.886 XA retracement in tight area (0.81196 - 0.81245). This will be a reasonable target once B line is broken. (Some participants will look this pattern as an inverted head and shoulder so B point work as a Neckline). It may bounce down to mid 0.79 which is a fib zone and half fill the gap then resume upward movement.
